Neonode (NASDAQ:NEON) Share Price Passes Above Two Hundred Day Moving Average of $1.57

Neonode Inc. (NASDAQ:NEON)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.57 and traded as high as $1.68. Neonode shares last traded at $1.63, with a volume of 167,596 shares.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Neonode in a research report on Friday. They set a “hold” rating on the stock.

Neonode Trading Up 10.4 %

The firm’s 50-day simple moving average is $1.45 and its two-hundred day simple moving average is $1.57.

Neonode (NASDAQ:NEON) last issued its earnings results on Wednesday, February 28th. The electronics maker reported ($0.39) earnings per share for the quarter. Neonode had a negative return on equity of 44.82% and a negative net margin of 227.53%. The company had revenue of $0.99 million for the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its holdings in shares of Neonode by 1,297.2% in the first quarter. Tower Research Capital LLC TRC now owns 4,499 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 4,177 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Neonode in the second quarter valued at about $55,000. Bank of America Corp DE purchased a new stake in shares of Neonode in the fourth quarter valued at about $98,000. Dimensional Fund Advisors LP lifted its holdings in shares of Neonode by 121.0% in the third quarter. Dimensional Fund Advisors LP now owns 28,402 shares of the electronics maker’s stock valued at $99,000 after purchasing an additional 15,553 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Neonode by 14.3% in the first quarter. State Street Corp now owns 21,411 shares of the electronics maker’s stock valued at $130,000 after purchasing an additional 2,680 shares in the last quarter. 11.63% of the stock is currently owned by institutional investors and hedge funds.

Neonode Company Profile

Neonode Inc, together with its subsidiaries, develops optical sensing solutions for contactless touch, touch, and gesture sensing in the United States, Japan, South Korea, Switzerland, Germany, France, Sweden, China, and internationally. It also offers software solutions for machine perception to detect and track persons and objects in video streams from cameras and other types of imagers.